Blank check B. Riley Principal Merger files for a $125 million IPO

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B. Riley Principal Merger, a blank check company backed by B. Riley Financial, filed on Thursday with the SEC to raise up to $125 million in an initial public offering.

The New York, NY-based company plans to raise $125 million by offering 12.5 million units at a price of $10. At $10, B. Riley Principal Merger would command a market value of $161 million. Each unit consists of one share of common stock and one-half of one warrant to purchase a share of common stock at $11.50.

B. Riley Principal Merger was founded in 2018 and plans to list on the NYSE under the symbol BRPM.U. B. Riley Principal Merger filed confidentially on December 10, 2018. B. Riley FBR is the sole bookrunner on the deal.

The article Blank check B. Riley Principal Merger files for a $125 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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